Technology Helps Businesses Increase Profits

By Ryan Skidmore

April 4, 2016

Zero to Sixty…Technology. This blog is meant for the business owner who isn’t neck deep in technology already. Implementing a little technology where there is none can be one of, if not the most, impactful things a business owner can do. A few of the basic ways technology increases profits are by increasing worker productivity, increasing process productivity, and decreasing process costs. These principles apply across all areas of business from shop floor to office operations. Examples:

Increase worker productivity: Providing a sales person with a CRM system that dynamically stores and tracks customers instead of just using a spreadsheet dramatically increases their ability to track, contact, and serve those customers. It helps them stay organized and have all the information in one single location which can be access through any mobile device too.

Increase process productivity: A digital score board on a sales floor, displaying sales figures, eliminates the need for someone to collect sales figures from each sales person and manually update a whiteboard. Additionally, the digital scoreboard is updated in quicker, even in real-time, leading to a more competitive sales environment.

Decrease process cost: Before WordPress and its ilk, keeping website text updated required paying a professional (or a teenager who could possible break your website which would require paying a professional to fix it) to perform some mysterious magic and, bam, there’s your text online. Now a business owner can do it themselves with no more additional training or hassle than simply enter the username and password of their CMS system.

These are all fantastically general uses of technology. What about industry specific uses? The same principles are absolutely true.

Upwards and onwards. If you have a fleet, what happens in the field can be one of life’s great mysteries. Using technology can not only relay what’s happening day to day, but can help you make changes to maximize your bottom line. Using the same basic criteria as above, here are a few tips.

Increase worker productivity: Finding inefficiencies in routes taken and extra time spent at each stop enables a business owner to increase the number of trips a driver makes. This is not possible without electronic records and a sit down with the driver.

Increase process productivity: Recording driver movements and knowing where drivers are is drastically improved by fleet tracking. Without it, drivers must keep records themselves. Also, knowing where drivers are real-time involves calling them and then relaying that information to whoever wants to know. With fleet tracking you know the status in real time.

Decrease process cost: The staff required and amount of time it takes to report on driver activities is dramatically decreased with electronic reporting. Previously, every driver must record their activities every day and an administrative assistant must collect and enter those figures at least once a week. Now, an administrative assistant pulls already formatted reports from the fleet management website and enters them once a week or less.

For companies already doing the above activities, the differences can be seen right away, but for companies that never had the budget or the staff for such luxuries, technology opens entirely new arena to increase profits. Things that once required substantial manpower can be now be done by a small staff with proper planning and implementation.

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